Upbeat Home & Real Estate The Mortgage Coach T

he days are getting shorter and the harvest is coming on quickly. With fall just around the corner, prime home buying season is close to the end. Now, Sellers

might be

more motivated to make a deal, want- ing to sell before winter rains and the busy Holiday season.

Interest rates are hitting all-time

lows, not seen since 2016. Having a low interest rate gives buyers more buying power and those with higher interest rates on their cur- rent mortgage an opportunity to refinance and lower their monthly payments. The best way to secure the best interest rate is to have the best credit rating.

The interest rate offered has a direct relationship to your credit score, loan-to-value, and purpose for the loan. It’s not just one factor. are


If you cash

out there will be a pricing adjustment on the interest rate. If the pur- pose of the loan is for a purchase of primary residence, your interest

rate will be better than

if the purchase was for an in- vestment property. No mat- ter how tempting the interest rate glaring from the internet might seem, you cannot guar- antee what the interest rate will be without putting the whole picture together. Your credit score is crucial.

If you’re diligent about maintaining good credit, the

three rules are; pay on time, don’t exceed your limits, and never get your credit pulled needlessly. The last rule is the most important if you are in the process of buying a home or refinancing. Keep in mind the underwriter will also mon- itor your credit till the day the loan funds. The lender is making sure you do not have some undisclosed debt that could affect your debt-to-in- come ratio, and change your approval. In your initial loan approval, they will always ask for a letter of explanation for any credit inquiries in the prior 90 days. Any inquiries from the application date to the funding date, will require explanation.

In this digital age, informa-

tion is passed faster than the speed of light. Information and misinformation is spread

Falling Interest Rates! by Barry O'Meara of Santa Rosa, CA •

across the digital world, and it is important to know what is being reported. Many credit cards are offering free credit scores that you can monitor on your monthly statements. These scores are “soft” pulls and do not affect your credit rating. If you view these on a regular basis, you should be able to manage your credit, and shop for your home with confidence.

If you are shopping for

your first home or that move- up home, be mindful of who is pulling your credit, and be prepared to explain any in- quiries.

Remember, under-

writing is monitoring your credit in the 90 days prior to the date of funding. Pay your bills on time and don’t extend your credit cards beyond 50% of your maximum limit. The credit that the lender is moni- toring is not a “hard” pull, so it should not be affecting your credit score. Stay away from the department store offers, they’re not worth the added stress. Close on your pur- chase before you start filling the household.

For dates, times and reservations, visit

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As summer passes to fall, embrace the harvest and enjoy where we live. Now can be the time for you to buy.

Weird Facts & Fun Trivia - 4

September Equinox of Fall is on September 23, 2019. The day and night will be almost equal in most locations.

The September equinox is on or around September 22, while the first equinox of the year, the March Equinox, takes place on or around March 21 every year.

For meteorologists fall in the Northern Hemisphere begins about 3 weeks before the September equinox on September 1 and ends on November 30.

Equinoxes are not day-long events, even though many choose to celebrate all day. Instead, they occur at the moment the Sun crosses the celestial equator – the imaginary line in the sky above Earth’s Equator.

As the September equinox rolls by, the chances to see the aurora borealis display increases for those located at high Northern Hemi-

sphere latitudes. According to NASA, the equinoxes are prime time for Northern Lights – geomagnetic activ- ities are twice more likely to take place in the spring and fall time, than in the summer or winter.

Sonoma County Wine Auction ...continued from page 20

Gallo Winery. • A collection of CIRQ wines by Michael Browne and front row access to the CIRQ mail- ing list. • Ultimate fan experience with San Francisco 49ers Hall of Famers and iconic vintner Merry Edwards. • Barefoot Elegance on Francis Ford Coppola’s Private Island presented by Francis Ford Coppola Winery.

• All-access passes to the 2019 St. Regis Snow Polo Cham- pionship in Aspen, Colorado courtesy of Flexjet and Senses Wines. • And, an excursion to New Orleans with Benovia Winery featuring dinner at Emeril’s New Orleans and Trenasse & So Much More!!

“It's September 21st, a day I love for the balance it carries with it.” ~ Pam Houston Jo Diaz

B. O’Meara

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